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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Schedule of Shares of Common Stock Reserved for Future Issuance

The following shares of common stock are reserved for future issuance at March 31, 2015:

 

Common stock warrants outstanding

 

990,031

 

Stock options issued and outstanding

 

5,194,724

 

Authorized for future option grants

 

2,734,773

 

Employee stock purchase plan

 

770,413

 

 

 

9,689,941

 

 

Schedule of Assumptions Used in Black-Scholes Option-Pricing Model

The assumptions used in the Black-Scholes option-pricing model are as follows:

 

 

Stock Option

 

 

Three Months Ended

 

 

March 31,

 

 

2015

 

 

2014

 

Weighted average grant date fair value (per share)

$

8.58

 

 

$

17.05

 

Risk-free interest rate

 

1.7

%

 

 

1.9

%

Expected dividend yield

 

0.0

%

 

 

0.0

%

Expected volatility

 

70.4

%

 

 

78.7

%

Expected term (in years)

 

6.1

 

 

 

6.1

 

 

Summary for Allocation of Stock Compensation Expense

The following table summarizes the allocation of stock compensation expense (in thousands):

 

 

Three Months Ended

 

 

March 31,

 

 

2015

 

 

2014

 

Cost of sales

$

324

 

 

$

364

 

Selling, general & administrative

 

2,978

 

 

 

3,003

 

Research and development

 

471

 

 

 

404

 

Total

$

3,773

 

 

$

3,771